Hibbing JC Penney store to close

Source Prosper Insights & Analytics  Fung Global Retail & Technology

Source Prosper Insights & Analytics Fung Global Retail & Technology

JCPenney got its start in Kemmerer in 1902. No specific date was given for when the McAllen location will close.

Liquidation will begin April 11, and affected stores will close in June.

J.C. Penney released the list of stores that would be closing in 2017.

A supply chain facility in Florida will also close while a California location will be relocated.

Sears closed at Eastridge in late 2014, one of about 100 stores the struggling retailer said it was closing at the time.

JCPenney's other stores in Northeast Ohio that will remain open include: Akron, Avon, Canton, Elyria, Mentor, North Olmsted, Parma, and Strongsville.

Disappointing holiday sales were reported at all department stores nationwide, as well as declines in stock prices, just before the closures were announced. Retailers have been hit hard by consumer drift toward online shopping.

The closures leave four stores in the area: Montgomery Mall, Oxford Valley Mall, Deptford Mall and Cherry Hill Mall.

Ellison told USA Today that by closing 138 stores, the retail chain will aim to raise the standard of its brand name.

The annual cost savings resulting from these strategic decisions, primarily occupancy, payroll, home office support, corporate administration and other store-related expenses, are estimated at approximately $200 million.

Recommended News

  • One Stock Analysts Are Watching - Sirius XM Holdings Inc. (NASDAQ:SIRI)

    One Stock Analysts Are Watching - Sirius XM Holdings Inc. (NASDAQ:SIRI)

    For SIRI, the company now has $213.94 Million of cash on the books, which is offset by $5.49 Million current liabilities. Biegel & Waller LLC acquired a new position in Sirius XM Holdings during the fourth quarter valued at $101,000.
    Triple H On Why The Rock Keeps Coming Back To WWE

    Triple H On Why The Rock Keeps Coming Back To WWE

    TJ Perkins: Perkins dominates the opening moments of the match and hits a cross-body off the top rope for a two count on Kendrick. Then Foley ripped up the index cards and went off script, drawing McMahon's ire.
    Walter Investment Management Corp. (WAC) hit its 52 Week low of…

    Walter Investment Management Corp. (WAC) hit its 52 Week low of…

    Finally, Dimensional Fund Advisors LP raised its stake in Walter Investment Management Corp by 33.1% in the fourth quarter. The company reported ($1.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by $0.75.
  • Cracker Barrel Fires Brad's Wife After 11 Years, Internet EXPLODES

    Cracker Barrel Fires Brad's Wife After 11 Years, Internet EXPLODES

    Calling his wife a good person, Byrd said that it saddened him that his wife was hurt by being fired from Cracker Barrel. Someone even changed the Cracker Barrel Wikipedia entry to read, "Number of employees: 70,000, minus Brad's wife".

    Lockheed Martin moving F-16 production to SC

    Erickson said Lockheed's Greenville complex could wind up making more F-16s than just the 19 proposed to be sold to Bahrain. News media outlets report the company is moving production of the warplane nicknamed the Fighting Falcon to Greenville.

    Trump golf trips: President's 11 outings on pace to out-golf Obama

    Each of Trump's weekend Mar-a-Lago trips could cost taxpayers more than $3 million, according to an analysis by Politico . A president's golf play is far from controversial: In fact, it's the most common pastime of the country's leaders.
  • The Witcher 4 Report Debunked: It's A Very Old Statement

    The Witcher 4 Report Debunked: It's A Very Old Statement

    The last of the series was critically acclaimed for its depth and story and was considered as one of the best RPGs off all time. In fact, then upcoming game may even be a bigger success than " The Witcher 3: Wild Hunt ", according to its co-founder.
    Los Angeles Lakers signing David Nwaba to two-year deal

    Los Angeles Lakers signing David Nwaba to two-year deal

    But as he's proven in his time with the Lakers, Nwaba is not looking to stop now that he's reached some success. He has been the Lakers' best perimeter defender - not a hard bar to reach but a notable one nonetheless.
    Army of python bounty hunters drafted in to fight Florida snake invasion

    Army of python bounty hunters drafted in to fight Florida snake invasion

    Hunters are restricted to designated South Florida Water Management District land in Miami-Dade County. This effort would be very different than the python challenge which puts a bounty on the snakes.
  • Windows 10 Build 15063 Released, RTM is in the Air

    Windows 10 Build 15063 Released, RTM is in the Air

    The Windows 10 Creators Update is also expected to introduce WebVR, 3D content, night-time mode and Ebook support. KB4013429 refers to the previous cumulative update of Windows 10's Anniversary Update version.
    National Basketball Association  star LeBron James designs sneakers for disabled kids

    National Basketball Association star LeBron James designs sneakers for disabled kids

    You're not sure if you'll have the time or the money to go to another game when the Cavaliers next come to Los Angeles . But because those team appear on national television most often, it makes the issue more prominent.

    2 teens found dead in vehicle in St. Charles

    Deputy Police Chief David Kintz said the bodies of a man and woman were found in the back seat of a auto off 17th Street in St. Those in the auto have been identified as Adalina Elizabeth Donoso, 18, of Racine, Wis., and Kody R.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.